logistics

IDI Gazeley Begins Development on One of Chicago’s Largest Industrial Spec Buildings of 2016

CHICAGO, July 20, 2016 – IDI Gazeley, a leading global investor and developer of logistics warehouse and distribution parks, has broken ground on a 749,554 square foot industrial speculative building at 23700 West Bluff Road in Channahon, Illinois. Strategically located near the intersection of I-55 and I-80 in southern Will County, it is the first of four anticipated buildings to be constructed at the Channahon Corporate Center, a 100-acre master-planned industrial and logistics park that will have approximately two million square feet of industrial space. The building is scheduled for completion in the first quarter of 2017. Cushman & Wakefield Executive Director Jason West, SIOR, Senior Director Sean Henrick, SIOR, and Associate Director Michael Magliano are marketing the property on behalf of IDI Gazeley. “We are happy to be underway with this exciting project,” said Tom George, Regional Director of IDI Gazeley. “This is the culmination of three years of [...]

Rich Hamilton Joins Cushman & Wakefield to Head 3PL Specialty Practice

ROSEMONT, Ill., May 9, 2016 – Rich Hamilton has joined Cushman & Wakefield as managing director and head of the commercial real estate services firm’s newly formed 3PL Logistics Specialty Practice Group. He is based in the company’s Rosemont office, which serves as the home base for its Americas Logistics & Industrial Services team. A resident of St. Charles, Ill., Hamilton brings a diverse professional background in manufacturing and supply chain, third-party logistics, and industrial real estate – most recently serving as Prologis’ first vice president, Global Customer Solutions. In his new role, Hamilton is teaming with Cushman & Wakefield’s industrial brokers, research and strategic consulting professionals and other special practice groups to provide facility and real estate advisory services for third-party logistics providers. “Rich is an excellent addition to both our Chicago and U.S. Industrial teams,” noted John Morris, executive managing director of Americas Logistics & Industrial Services. “His [...]

Cushman & Wakefield Arranges $14.3M Sale of Chicago Industrial Properties

CHICAGO, March 15, 2016 – Cushman & Wakefield arranged the sale of 6400 and 6500 West 51st Street, two newly renovated industrial properties located in Chicago’s I-55 corridor. 51st Holdings, LLC purchased the 391,483 square foot portfolio from Venture One Real Estate, LLC for $14.3 million. Cushman & Wakefield Senior Directors Larry Goldwasser and Sally Macoicz, and Associate Directors Colin Green and Michael George represented both parties in the transaction. Venture One acquired the portfolio in 2014 and completed a major capital renovation plan including restored roofs, facade improvements, updated loading docks, revamped office space, lighting and electrical upgrades, and interior and exterior painting. “This is a prime example for the demand in the city for updated, functional properties,” said Goldwasser. “The extensive renovations that Venture One put into the buildings made them competitive with newer product both in the city proper as well as the surrounding Cook County markets,” [...]